Allegedly, but reddit also spent tons of money on stupid shit. My favorite example is their braindead stupid million dollar Superbowl ad, but they also doubled the number of employees to 1400 in 2021. And all they have to show for it is a slow, ugly website and a trashy, extra-monetized mobile app. Fuck em.
Meta/Facebook and Google/Alphabet are very different from Twitter/X. The first two created parent companies under which their large brand names still exist, but are now managed along with their other properties (Instagram,
Snapchat, Waymo, Deepmind, etc.) Musk, meanwhile, is trying to completely burn down the Twitter brand for some incomprehensible reason.